Seattle: US-based aviation firm Boeing is preparing to develop a new narrow-body, single-aisle aircraft aimed at replacing its 737 Max model. This initiative is still in the early stages of development and is pending approval from the Federal Aviation Administration (FAA).

According to Anadolu Agency, Boeing CEO Kelly Ortberg has appointed a senior product chief to lead the company's commercial aircraft business. This executive will oversee the development of the new aircraft intended to succeed the 737 Max. In February, Ortberg held discussions with Rolls-Royce CEO Tufan Erginbilic in the UK about potentially supplying engines for the new model. Erginbilic indicated at a September investor event that the upcoming aircraft would be indicative of the firm's future development direction.

Boeing recently communicated its priority of delivering and certifying approximately 6,000 backlogged commercial aircraft while monitoring market conditions. The company is poised to introduce a new product that promises at least a 15% increase in fuel efficiency. The development project will feature innovative engine architecture, a lighter construction, and significant changes to the fuselage, with an anticipated investment of tens of billions of dollars.

The drive to replace the 737 Max is partly motivated by past accidents involving the model, which led to its global grounding. Since entering commercial service in May 2017, the 737 Max has been involved in two fatal crashes, resulting in the deaths of 346 people. In response, Boeing agreed to FAA supervision in 2021 and settled to pay $2.5 billion in compensation and fines.

Additionally, a crash involving a similar model, the Boeing 737-800, on December 29, 2024, marked the deadliest disaster in South Korean aviation history. Boeing has since implemented changes in senior management and addressed safety issues following these incidents. The firm is actively working to recover its market share, which has been impacted by European competitors like Airbus.